Saving Unit

Students will be able to

• Describe how saving and investing are different
• Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
• Explain why it is important to start investing for retirement when you are still young

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Recognize the impact of inflation on savings
• Experience simulated challenges of living paycheck to paycheck
• Understand why it is important to maintain an emergency fund

Students will be able to

• Identify various rules of thumb and strategies to save money
• Determine whether a direct deposit or manually saving is the better strategy for them
• Understand how compound interest works to increase savings.

Students will be able to

• Explain the difference between a checking and savings account
• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account.

Students will be able to

• Describe how saving and investing are different
• Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
• Explain why it is important to start investing for retirement when you are still young

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Recognize the impact of inflation on savings
• Experience simulated challenges of living paycheck to paycheck
• Understand why it is important to maintain an emergency fund

Students will be able to

• Identify various rules of thumb and strategies to save money
• Determine whether a direct deposit or manually saving is the better strategy for them
• Understand how compound interest works to increase savings.

Students will be able to

• Explain the difference between a checking and savings account
• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account.

Students will be able to:

• Explain how saving is linked to overall wealth
• Describe how saving and investing are different
• Understand fundamentals of saving such as reasons for saving, how much to save, and strategies to enable saving
• Acknowledge the role of delayed gratification in saving

Students will be able to

• Identify everyday obstacles Americans experience when trying to save money
• Understand why it is important to maintain an emergency fund
• Describe their own savings goals as well as big picture reasons to save, such as for college or retirement
• Estimate the cost of medium- and long-term goals and devise smaller, periodic savings goals to reach them

Students will be able to

• Identify various rules of thumb and strategies to save money
• Determine whether a direct deposit or manually saving is the best strategy for them
• Understand how compound interest works to increase savings
• Explain how to use the Rule of 72
• Recommend different mobile apps that can help them manage and increase their savings

Students will be able to

• Compare different savings vehicles such as a savings account, CD, and money market account
• Identify important criteria to consider when selecting a savings account
• Make a systematic and informed decision by gathering, evaluating, and comparing information